Co-operative Bank to have 20 directors

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Following its merger with Britannia Building Society in January, the enlarged Co-operative Bank will appoint 20 directors

The board of the enlarged Co-operative Bank will have 20 directors following its merger with Britannia Building Society, The Times has learned.

The merger document, which is being posted to Britannia’s three million members, reveals that the Co-op will supply 10 non-executive directors to the enlarged board, with a further two to be appointed shortly, while Britannia will provide four.

As previously announced, Britannia’s chief executive Neville Richardson will have that role in the new “super-mutual”, while there will also be executive directorships for Britannia’s Tim Franklin and Phil Lee. No chairman designate has been named.